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  • Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz 2024

    Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz 2024
    Oct 2 2024
    Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz This is a Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz: a free quiz for Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz. Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 56 Securities Act of 1933 Quiz This is a Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. Which of the following is true about the Securities Exchange Act of 1934? (Select all that apply.) A. It applies to exempt securities. B. It determines what fair trading practices are. C. It regulates the secondary trading of securities. D. It was established by the Securities and Exchange Commission. 2. Which of the following is contained in a 10-K? (Select all that apply.) A. balance sheet B. cash flow statement C. compensation of officers D. income statement 3. The 10-Q is an audited financial report submitted quarterly to the Securities and Exchange Commission. A. True B. False 4. A ___ is filed if the company changes its name or there’s a 5% or greater change in the number of shares outstanding. A. 10-C B. 13-G C. 15-B D. 8-K 5. Which of the following is required from the broker-dealers by the Securities Exchange Act of 1934? (Select all that apply.) A. buy back stocks for customers that reneged on their transactions B. electronically deliver clients’ confirmation and statements C. maintain a minimum net capital D. send customers a copy of their income statement 6. Under ___, margins are regulated from brokers to their customers. A. Regulation D B. Regulation M C. Regulation T D. Regulation U 7. Broker-dealers are allowed to disclose to customers the routing of the customers’ orders. A. True B. False 8. It is a totally anonymous matching of buy and sell orders. A. alternative trading system B. electronic exchange C. electronics communication network D. physical exchange 9. Which of the following are/were physical exchanges? (Select all that apply.) A. Cincinnati Stock Exchange B. New York Stock Exchange (NYSE) C. Pacific Stock Exchange D. Philadelphia Stock Exchange 10. Which of the following is true about penny stocks? (Select all that apply.) A. They are sold on the over-the-counter bulletin board. B. They are unsolicited orders. C. They are traded on the NASDAQ and other listed exchanges. D. They sell at less than $5. 11. The broker is not required to assess a penny stock buyer’s financial situation if the buyer is a/an ___. (Select all that apply.) A. accredited investor B. client whose order is unsolicited C. insider D. interstate citizen 12. It is trading on nonpublic material information on the company. A. front running B. insider trading C. pegging D. wash trade 13. This is the catchall rule that prohibits anything fraud even if it is not specifically prohibited in the Securities Exchange Act of 1934. A. Rule 10b-5 B. Rule 127-c C. Rule 144A D. Rule 145 14. For unlawful practices under the Securities Exchange Act of 1934, suits can be brought within ___ of discovery. A. six months B. one year C. two years D. three years 15. If a control person owns a position of a stock and he wants to lock in his profit or loss, he can ___. A. dribble out B. peg the stock C. short against the box D. short sell the stock 16. Anybody that has nonpublic material information on the company is considered an insider. A. True B. False 17. In the United Sates, they are exempted from the rules that prohibit insider trading. (Select all that apply.) A. congressmen B. directors of the company C. officers of the company D. senators 18. Insiders can trade on the material nonpublic information once the information has been made public. A. True B. False 19. Only the Securities and Exchange Commission can sue insider traders. A. True B. False 20. The statute of limitation for insider trading is ___. A. one year B. three years C. five years D. ten years Series 66 Exam Lesson 56 Securities Exchange Act of 1934 Quiz We hope you did well on this ——————————— The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative. The other possible exam would be the series 65 examination. The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA. The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions. There is no prerequisite for the Series 66 examination. However, the SIE and the Series 7 examination are co-requisites to the Series 66 Examination. What is the Series 65 Exam? The Series 65 is another path to becoming an Investment Advisor Representative (IAR) Sometimes called the IAR in a box ...
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    12 m
  • Series 66 Exam Lesson 55 Securities Act of 1933 Quiz 2024

    Series 66 Exam Lesson 55 Securities Act of 1933 Quiz 2024
    Sep 23 2024
    Series 66 Exam Lesson 55 Securities Act of 1933 Quiz This is a Series 66 Exam Lesson 55 Securities Act of 1933 Quiz: a free quiz for Series 66 Exam Lesson 55 Securities Act of 1933 Quiz. Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 55 Securities Act of 1933 Quiz This is a Series 66 Exam Lesson 55 Securities Act of 1933 Quiz. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. It is the law that requires companies to give full and fair disclosure of information if they want to go public. A. Investment Company Act of 1940 B. Dodd-Frank Act C. Securities Act of 1933 D. Securities Exchange Act of 1934 2. This is the registration statement that a company must file if the company wants to go public. A. Form 144-A B. Form D C. Form RS-1 D. Form S-1 3. The registration statement is filed with the ___. A. Financial Industry Regulatory Authority B. National Association of Securities Dealers C. New York Stock Exchange D. Securities and Exchange Commission 4. After the company that wants to go public has filed the registration statement, its investors can already trade their stocks publicly. A. True B. False 5. It contains full and fair disclosure about the company that is going public and the risks involved in investing in the company. (Select all that apply.) A. comprehensive prospectus B. final prospectus C. preliminary prospectus D. unabridged prospectus 6. The Securities Act of 1933 attempts to curb speculation in new issues securities by preventing the ability to margin stock or borrow against the new issues securities. A. True B. False 7. A person buys and sells stock in a regular account. Under current margin requirements set by the Federal Reserve board, he can margin his securities at ___. A. 50% B. 55% C. 60% D. 65% 8. When the SEC has confirmed that the company has given a full and fair disclosure of information, the company enters into a quiet period for ___ days. A. 10 B. 20 C. 25 D. 40 9. Which of the following is NOT allowed during the quiet period following the SEC’s confirmation of the company’s full and fair disclosure? (Select all that apply.) A. brokers soliciting orders to buy the stock B. company distributing their preliminary prospectus C. insiders selling the stock D. underwriters recommending the stock 10. If the SEC finds that there is no full and fair disclosure from the company that wants to go public, ___. (Select all that apply.) A. the SEC would send a deficiency letter back to the company and require additional disclosure B. the company would be charged of giving false, misleading, and/or inadequate information C. the company has to refile a registration statement addressing the concerns of the SEC D. the company’s operations would be suspended for 20 days before they could file another registration statement 11. Which of the following information is contained in the initial offering prospectus? (Select all that apply.) A. background of the officers and directors B. different risks of the offering C. final offering price on the new issue D. management discussion on what the company does 12. The purchaser of the stock must have the final prospectus prior to the settlement of the sale. A. True B. False 13. For initial public offerings, the company has ___ days to deliver the final prospectus to the customer after the order is taken. A. 20 B. 25 C. 40 D. 90 14. To sell a 144 stock, the holder of that stock must have held that stock fully paid for at least ___. A. four months B. six months C. one year D. two years 15. Which of the following is considered a control person? (Select all that apply.) A. officers B. directors C. 10% shareholders D. affiliated persons 16. An insider owns 15% of a publicly traded stock on electronic exchange. It would take him at least ___ days to dribble out and sell all of his stocks. A. 450 B. 900 C. 1350 D. 2700 17. Which of the following are exempt transactions under the Securities Act of 1933? (Select all that apply.) A. interstate transactions B. government bonds C. penny stocks D. private placements 18. In order to be qualified to purchase an exempt offering, an investor must be ___. (Select all that may apply.) A. a control person B. accredited C. an insider D. sophisticated 19. Anyone can buy private placements as long as the buyer is registered with the Securities and Exchange Commission. A. True B. False 20. The Securities and Exchange Commission does not require registration of Regulation D offerings. A. True B. False Series 66 Exam Lesson 55 Securities Act of 1933 Quiz We hope you did well on this ——————————— The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative. The other possible exam would be the series 65 examination. The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam ...
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    13 m
  • Series 66 Exam Lesson 28 Unit Investment Trust Quiz 2024

    Series 66 Exam Lesson 28 Unit Investment Trust Quiz 2024
    Sep 18 2024
    Series 66 Exam Quiz Mutual Funds 3 This is a Series 66 Exam Lesson 28 Unit Investment Trust Quiz: a free quiz for Series 66 Exam Lesson 28 Unit Investment Trust Quiz which is covering the Unit Investment Trust . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 28 Unit Investment Trust Quiz This is a Series 66 Exam Lesson 28 Unit Investment Trust Quiz. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. It is a specific portfolio of bonds that is self-liquidating. A. unit investment trust B. open-end mutual fund C. closed-end mutual fund D. hedge fund 2. The unit investment trust is regulated by the Investment Company Act of 1940. A. True B. False 3. What is the implication of a unit investment trust being self-liquidating? A. The investor will get back over time the principal plus interest. B. The net asset value of the trust is independent from the market value. C. The trust is free from ownership risk. D. There is a constant interest rate until the trust’s maturity. 4. Which of the following is true about a unit investment trust which invests in fixed income investments? (Select all that apply.) A. Buying the trust is buying shares of beneficial interest. B. Holding the unit investment trust to its maturity returns the investment (assuming no defaults). C. If the trust is sold prior to maturity, it has more interest rate risk than other fixed income portfolio. D. Unlike a bond, this trust is a fixed portfolio. 5. A fixed income unit investment trust differs from an open-end mutual fund in such a way that ___. (Select all that apply.) A. A fixed income unit investment trust is self-liquidating; an open-end mutual fund is not. B. An open-end mutual fund has breakpoints; a fixed income unit investment trust has none. C. An open-end mutual fund is perpetual; a fixed income unit investment trust is not. D. An open-end mutual fund pays a little, if any, management fee; a fixed income unit investment trust pays very high management fees. 6. A unit investment trust does not expand nor contract in size once issued. A. True B. False 7. Unit investment trusts can invest in ___. (Select all that apply.) A. closed-end funds B. corporate bonds C. government securities D. equities 8. The shares of beneficial interest in a unit investment trust can be redeemed prior to maturity. A. True B. False 9. A unit investment trust that invests in a master limited partnership will receive a ___ at the end of the year. A. 1099-DIV B. 1601F C. CF-213 D. K-1 10. A trust invests in a closed-end fund. The fund’s net asset value is $28.74. It currently trades at $29.03. What is the percentage of the premium? A. 0.01% B. 0.09% C. 0.99% D. 1% 11. It is a unit investment trust used to fund variable annuities. A. fixed income unit investment trust B. municipal bond unit investment trust C. participating unit investment trust D. stock unit investment trust 12. In a fixed income unit investment trust, if any of the bonds in the fund default, the principal that the investor would be getting back would ___. A. increase B. decrease C. remain the same D. be equal to the market value 13. A unit investment trust that invests in US government bonds that is held in maturity is NOT subject to ___. A. credit worthiness risk B. currency risk C. interest rate risk D. principal risk 14. What is the advantage of buying a unit investment trust that strictly invests in a master limited partnership (compared with a unit investment trust that invests in closed-end funds that invest in the same master limited partnership)? (Select all that apply.) A. It avoids paying several management fees. B. It can generate more income because the management fees are lower. C. It has lower interest rate risk. D. It receives the simpler 1099-DIV at the end of the year. 15. These are risk-free investments. A. direct government securities B. closed-end funds C. unit investment trusts D. treasury bonds 16. When a unit investment trust closes, the investor can ___. (Select all that apply.) A. get the proportion of the securities held in the trust B. roll it over into the next unit investment trust C. sell the shares D. take a liquidation 17. Rolling over into the next unit investment trust is a non-taxable event. A. True B. False 18. It is taking the proportion of the securities held in the trust when the unit investment trust closes. A. calling off B. in-kind distribution C. liquidation D. rolling over 19. The intention to receive in-kind distribution when the unit investment trust closes must be made known to the trust at least ___ days before the termination of the trust. A. 7 B. 15 C. 30 D. 60 20. A large enough position is required before an investor can opt to receive in-kind distribution when the unit investment trust closes. A. True B. False We hope you did well on this Series 66 Exam Lesson 28 Unit Investment Trust Quiz We hope you did well on this ———————...
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  • Series 66 Exam Lesson 26 Quiz Mutual Funds pt. 3 2024

    Series 66 Exam Lesson 26 Quiz Mutual Funds pt. 3 2024
    Sep 11 2024
    Series 66 Exam Quiz Mutual Funds 3 This is a Series 66 Exam Quiz Mutual Funds 3: a free quiz for Series 66 Exam Quiz Mutual Funds 3 which is covering Mutual Funds part 3 . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 26 Quiz Mutual Funds pt 3 This is a Series 66 Exam Quiz Mutual Funds 3. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. Which of the following is true about hedge funds? (Select all that apply.) A. They are not allowed to cut off withdrawals by their investors. B. They are open to any kind of investor. C. They charge a management fee. D. They have a cap on the amount that is available to be withdrawn at any given time. 2. What is the minimum capital for a hedge fund? A. $100,000 B. $200,000 C. $500,000 D. $1,000,000 3. Which of the following is qualified as an accredited investor according to the Securities Act of 1933? (Select all that apply.) A. a bank B. a charitable organization with a total asset of $5 million C. a trust with a total asset of $10 million D. an employee benefit plan that has a total asset of $3 million 4. A business is qualified to be an accredited investor if all its equity owners are accredited investors. A. True B. False 5. A natural person can be an accredited investor if that person ___. (Select all that apply.) A. has an income exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income level in the current year B. has individual net worth that exceeds $1 million including the value of the primary residence of such person C. has a joint income with the spouse exceeding $200,000 in each of the two most recent years and a reasonable expectation of the same income in the current year D. has a joint net worth with the person’s spouse that exceeds $1 million excluding the value of the primary residence of such person 6. The performance of a hedge fund is always better than the market. A. True B. False 7. Which of the following strategies does a hedge fund employ? (Select all that apply.) A. global macro hedge fund strategy B. relative value arbitrage C. high-frequency trading D. currency strategies 8. A mutual fund’s annual and semiannual report has an income statement similar to a regular corporate income statement. A. True B. False 9. Which of the following can be found in a mutual fund’s income statement? (Select all that apply.) A. dividends B. capital gains C. expenses D. net income 10. Which of the following is true about expense ratio? (Select all that apply.) A. It applies to closed-end funds but not to open-end funds. B. It gives an overall look at how much it costs to pay the management to buy the stocks instead of buying it yourself without paying any management fee. C. It is the total net assets divided by the total expenses. D. It shows the efficiency of the fund. 11. If you’re buying a fund at a very big discount but has a very high expense ratio, the discount you’re buying those stocks may disappear. A. True B. False 12. An investment company should distribute at least ___ of its income in order to be regulated under the Investment Company Act of 1940. A. 80% B. 85% C. 90% D. 95% 13. If an investment company is not regulated under the Investment Company Act of 1940, ___. A. it becomes taxed as a regular corporation B. it has to pay an additional tax equivalent to 2% of the total capital gains C. it will require double management fees D. its net pass is not taxed 14. Investment companies can pass through capital gains ___. A. monthly B. quarterly C. semiannually D. at the end of the year 15. An investor buying a mutual fund at the end of the year will not be paying taxes if he has not made any money in the fund. A. True B. False 16. It is a type of mutual fund having a portfolio that is constructed to mimic the market index. A. closed-end fund B. exchange traded fund C. index fund D. open-end fund 17. These funds are traded as regular stocks on the stock exchange, but move throughout the day. A. closed-end fund B. exchange traded fund C. index fund D. open-end fund 18. As an investor in a fund or in a management company, you have the right to ___. (Select all that apply.) A. receive annual and semiannual reports B. vote annually on the investment adviser contract C. vote every year on the board of directors D. vote on any changes in the investment objectives 19. In an investment company, ___ of the directors must be non-interested. A. 75% B. 80% C. 85% D. 90% 20. In a dollar cost averaging, when the price of the stock goes up, ___. A. you’re buying fewer shares on any given month B. you’re buying more shares on any given month C. you’re buying the same number of shares on any given month D. you cannot buy any shares until the price of the stock returns to market price We hope you did well on this ——————————— The Series 66 Exam which can lead to the candidate being licensed as ...
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    13 m
  • Series 66 Exam Lesson 25 Quiz Mutual Funds pt. 2 2024

    Series 66 Exam Lesson 25 Quiz Mutual Funds pt. 2 2024
    Sep 4 2024
    Series 66 Exam Quiz Mutual Funds 2 This is a Series 66 Exam Quiz Mutual Funds 1: a free quiz for Series 66 Exam Quiz Mutual Funds 2 which is covering Mutual Funds part 2 . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 25 Quiz Mutual Funds pt 2 This is a Series 66 Exam Quiz Mutual Funds 2. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. Which of the following is true about closed-end funds? (Select all that apply.) A. It can trade at a premium or at discount to net asset value. B. It is redeemed. C. It has a fixed maturity and interest rate. D. It trades as a common stock on the exchanges wherever it is listed. 2. Which of the following details can be found on the website of the company that sponsors a closed-end fund? (Select all that apply.) A. discount to net asset value B. net asset value C. premium D. price of the stock 3. It is the amount annually collected from the shareholders, which include all the operating cost of the fund. A. conversion ratio B. expense ratio C. liquidity ratio D. Sharpe ratio 4. If a closed-end fund has a very high expense ratio, one reason you might wish to buy the fund is because ___. A. it is sold at net asset value B. it is sold at net asset value less than the expense ratio C. it is sold at par value D. it is sold at a big discount to net asset value 5. In financial industry, “Red Herring” refers to ___. A. expense ratio B. hedge funds C. master limited partnerships D. preliminary prospectus 6. Which of the following is true about a preliminary prospectus? (Select all that apply.) A. It contains the price of shares agreed upon. B. It contains the total number of shares issued. C. It does not contain the price of shares agreed upon. D. It does not contain the total number of shares issued. 7. One way that funds will get a higher return than the market average or a bigger loss than the market average is by leveraging their assets. A. True B. False 8. A fund is leveraged at 9.2%. If it has $80,000,000 in its assets, the portfolio would reflect a value of ___. A. $7,360,000 B. $72,640,000 C. $73,600,000 D. $87,360,000 9. Leveraged funds enhance returns and outperform the market when stocks are going down. A. True B. False 10. A mutual fund or a management company must distribute their income ___. A. annually B. monthly C. quarterly D. weekly 11. A management company distributes its income in a form of ___. (Select all that apply.) A. capital gains B. commissions C. dividends D. interest 12. These are capital gains that the management company must distribute at least on an annual basis. A. capital yield B. distribution yield C. dividend yield D. income yield 13. Dividend yield is the dividend that is paid out from the stocks that the management company owns and then passed through to the investors. A. True B. False 14. If you buy a closed-end fund before or close to the record date, your net asset value would decline by the amount of the distribution. A. True B. False 15. What would be a good reason for management companies to organize as master limited partnerships? A. They want to acquire big positions in closed-end funds. B. They want to avoid the double taxation. C. They want to decrease their management expenses. D. They want to increase their management fees. 16. It is a tax document of a master limited partnership. A. 1099-DIV B. 1601F C. CF-213 D. K-1 17. Why would a management company organize as a closed-end fund instead of an open-end fund? A. Closed-end funds generally have higher sales commission than open-end funds. B. In closed-end funds, managers may have to sell into a down market to raise money to pay for redemption. C. In closed-end funds, managers will not be forced to redeem shares when the market is weak. D. Unlike open-end funds, closed-end funds are more secure with specific maturity and interest rate. 18. A mutual fund held in another mutual fund would have double management fees. A. True B. False 19. The management fees of closed end funds ___. (Select all that apply.) A. are a way in which closed-end funds make money B. are much more variable than the management fees of open-end funds C. decline over time as assets decline D. grow over time as assets grow 20. Why would hedge funds acquire a big position in closed-end funds? (Select all that apply.) A. so that they can avoid the double taxation B. so that they can move and change the closed-end fund into an open-end fund C. so that they can capture the discount of the fund D. so that they can prevent the market movement We hope you did well on this ——————————— The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative. The other possible exam would be the series 65 examination. The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam ...
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    12 m
  • Series 66 Exam Lesson 24 Quiz Mutual Funds pt. 1 2024

    Series 66 Exam Lesson 24 Quiz Mutual Funds pt. 1 2024
    Aug 28 2024
    Series 66 Exam Quiz Mutual Funds 1 This is a Series 66 Exam Quiz Mutual Funds 1: a free quiz for Series 66 Exam Quiz Mutual Funds 1 which is covering Mutual Funds part 1 . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 24 Quiz Mutual Funds pt 1 This is a Series 66 Exam Quiz Mutual Funds 1. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. Which of the following is an example of a mutual fund? (Select all that apply.) A. corporate bond fund B. balanced fund C. hedge fund D. junk bond fund 2. Which of the following is an example of an income fund? (Select all that apply.) A. 12b-1 fund B. bond income fund C. government bond income fund D. utility stock income fund 3. Which of the following is an example of an open-end fund? (Select all that apply.) A. 12b-1 fund B. accumulated fund C. fee-based mutual fund D. no load fund 4. Which of the following is a requirement in putting up an investment management company? (Select all that apply.) A. custodian bank B. financial lawyer C. investment advisor D. underwriter 5. It is anybody who has the ability to sponsor the mutual fund. A. custodian bank B. investment advisor C. selling group D. underwriter 6. It is the document which outlines everything that the client needs to know about the mutual fund. A. Investment Company Act of 1940 B. investment management company indenture C. mutual fund contract D. prospectus 7. Which of the following is contained in the prospectus? (Select all that apply.) A. systematic withdrawal plan B. the name of the investment advisor and the custodian bank and their respective fees C. the type of mutual fund D. whether the fund is a diversified fund or not 8. The objectives of the fund is already fixed in the prospectus and can never be changed until all the funds are withdrawn. A. True B. False 9. Buying a mutual fund is buying a bond. A. True B. False 10. Mutual funds are not traded. A. True B. False 11. Mutual funds allow the investor to switch within the family of funds with no sales charge. A. True B. False 12. In an open-end fund, there’s a one-time fee that the underwriter will get for selling the shares in that fund. A. True B. False 13. No load funds have no ___. A. asking price B. bid price C. net asset value D. sales charge 14. The maximum sales charge for loaded funds is ___. A. 6 ¼ % of the net asset value B. 6 ¼ % of the public offering price C. 8 ½ % of the net asset value D. 8 ½ % of the public offering price 15. If a loaded fund chooses to charge the maximum sales charge, it is also required to offer ___. (Select all that apply.) A. breakpoints B. letter of intent C. principal reinvestment D. rights of accumulation 16. Which of the following is true about breakpoints? (Select all that apply.) A. It can be obtained by investment clubs. B. It is calculated only for individual investors. C. It is detailed in the prospectus. D. There is an increasing sales charge as the dollar amount goes up. 17. The maximum length on the letter of intent is ___. A. 12 months excluding 30 days backdating B. 12 months including 30 days backdating C. 13 months excluding the 90 days backdating D. 13 months including the 90 days backdating 18. Which of the following is a characteristic of a diversified fund? (Select all that apply.) A. Five percent or more of its assets can be invested in anyone issuer. B. It has a fixed payment date. C. Maximum of 10% of the voting shares of anyone issuer is allowed in the funds. D. Seventy-five percent or more of its assets must be invested in securities. 19. Which of the following is the ideal type of 12b-1 fund for long-term investors? A. Class A B. Class B C. Class C D. Class D 20. Which of the following mutual fund sales practices is prohibited by the Investment Company Act of 1940? A. accepting late orders after the market closes B. offering a reduced sales charge if a client gets above a breakpoint C. putting an additional fee or a management charge on sales of open-end funds D. reducing the maximum sales commission We hope you did well on this ——————————— The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative. The other possible exam would be the series 65 examination. The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA. The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions. There is no prerequisite for the Series 66 examination. However, the SIE and the Series 7 examination are co-requisites to the Series 66 Examination. What is the Series 65 Exam? The Series 65 is another path to becoming an Investment Advisor Representative (IAR) Sometimes called the ...
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    12 m
  • Series 66 Exam Lesson 39 Quiz Options pt 6 2024

    Series 66 Exam Lesson 39 Quiz Options pt 6 2024
    Aug 21 2024
    Series 66 Exam Lesson 39 Quiz Options pt 6 This is a Series 66 Exam Lesson 39 Quiz Options pt 6: a free quiz for Series 66 Exam Lesson 39 Quiz which is covering Options part 6 . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 39 Quiz Options pt 6 This is a Series 66 Exam Lesson 39 Quiz Options pt 6. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. It is the writing of two calls on the same stock. A. ratio strategy B. spread C. straddle D. strangle 2. In a ratio strategy, there is an unlimited potential loss on the upside. A. True B. False 3. It is the largest options exchange and where options in the United States are traded for the most part. A. American Stock Exchange B. Chicago Board Options Exchange C. Pacific Stock Exchange D. Philadelphia Stock Exchange 4. It is the subsidiary of Chicago Board Options Exchange where option contracts are cleared. A. Chicago Options Clearing Company B. Chicago Stocks and Options Clearing Company C. Options Clearance Conglomerate D. Options Clearing Corporation 5. The Chicago Board Options Exchange only issues new options near where the stock is trading at. A. True B. False 6. Which of the following are possible strike prices on options for a stock that trades at $300? A. $260, $280, $300, $320, $340 B. $280, $290, $300, $310, $320 C. $290, $295, $300, $305, $310 D. $295, $297.50, $300, $302.50, $305 7. The minimum increment on option is ___. A. $0.10 B. $0.25 C. $0.50 D. $1.00 8. Options expire at ___ on the third Friday of the expiration month. A. 11:59 A.M. B. 12:00 A.M. C. 11:59 P.M. D. 12:00 P.M. 9. This is the price at which you can buy or sell the stock when the stock’s option has already expired. A. execution price B. exercise price C. spot price D. strike price 10. Specific stocks have specific cycles or months that they trade on. A. True B. False 11. An option issued on Cycle ___ is issued only on the months of ___, April, July, and October. A. 1; January B. 2; February C. 3; March D. 4; January 12. The higher the volatility of the stock, the lower the premium for the time value of its option. A. True B. False 13. If you exercise your call option on a Wednesday, you’ll get your stock on ___. A. Friday B. Monday C. Thursday D. Wednesday – that same day 14. It is a limit on the number of contracts that an individual or a group of individuals acting in concert can acquire. A. contract limit B. open interest limit C. option limit D. position limit 15. There is a limit on the number of contracts that can be exercised within any five business days. A. True B. False 16. Option contracts are NOT adjusted for ___. A. cash dividends B. stock splits C. stock dividends D. Option contracts are adjusted in all of the above. 17. You hold an option contract for a stock with a strike price of $80 a share for 100 shares. If the stock did a 2 for 1 stock split, then ___. A. your option would now be for 100 shares with a strike price of $160 B. your option would now be for 200 shares with a strike price of $40 C. your option would now be for 50 shares with a strike price of $80 D. your option would not be affected by the stock split 18. LEAPS are options with terms longer than ___ and have a maximum life of ___. A. six months; 24 months B. seven months; 30 months C. nine months; 36 months D. 12 months; 48 months 19. On a given day, there are 35,000 puts traded and 50,000 calls traded. What is the put-call ratio? A. 0.07 B. 0.70 C. 0.85 D. 1.43 20. All of the following foreign currencies are traded in a contract size of 10,000 units of the local currency EXCEPT ___. A. Australian Dollar B. British Pound C. Japanese Yen D. Swiss Franc We hope you did well on this Series 66 Exam Lesson 39 Quiz Options pt 6 ——————————— The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative. The other possible exam would be the series 65 examination. The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA. The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions. There is no prerequisite for the Series 66 examination. However, the SIE and the Series 7 examination are co-requisites to the Series 66 Examination. What is the Series 65 Exam? The Series 65 is another path to becoming an Investment Advisor Representative (IAR) Sometimes called the IAR in a box Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor. When taking the Series 66 to join an RIA firm as a IAR, candidates must complete the exam within 150 minutes. ...
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  • Series 66 Exam Lesson 38 Quiz Options pt 5 2024

    Series 66 Exam Lesson 38 Quiz Options pt 5 2024
    Aug 14 2024
    Series 66 Exam Lesson 38 Quiz Options pt 5 This is a Series 66 Exam Lesson 38 Quiz Options pt 5: a free quiz for Series 66 Exam Lesson 38 Quiz which is covering Options part 5 . Try it and see how you do if you need help listen to the lesson over. Series 66 Exam Lesson 38 Quiz Options pt 5 This is a Series 66 Exam Lesson 38 Quiz Options pt 5. Try it and see how you do if you need help listen to the lesson over. Questions covered include 1. It is the purchasing and selling of put or call options with different strike prices, different expiration dates, or both. A. combination B. spread C. straddle D. strangle 2. In a spread, when you close out one position, you are expected to close out the other position at the same time. A. True B. False 3. The longer the option, the higher the time value premium. A. True B. False 4. As an option approaches its expiration date, the time value on that option reaches its maximum value at the expiration of that option. A. True B. False 5. This spread is designed to try to capture the decline of an option’s time value as the option approaches its expiration date. A. calendar spread B. long call spread C. long put spread D. short call spread 6. Which of the following is bearish? A. long call spread B. short call spread C. short put spread D. all of the above 7. The maximum profit for a long call spread is the net cost of the spread. A. True B. False 8. A short call spread is a credit spread. A. True B. False 9. You bought Jan 80 call at $10 and sold Feb 80 call at $20. Stock trades at $100 at expiration. Feb 80 call has $5 time value left. Which is true? (Note: This transaction is a calendar spread. The expiration mentioned is the expiration of the call option on January.) A. You shall buy back the February 80 call at $5. B. You shall buy back the February 80 call at $20. C. You shall buy back the February 80 call at $25. D. The February 80 call would expire worthless. 10. You bought Nov 30 call at $3 and sold Dec 30 call at $5. Stock trades at $25 at Nov expiration. Dec 30 call has $1 time value left. Which is true? (Note: This transaction is a calendar spread.) A. The November 30 call would expire worthless. B. The December 30 call would expire worthless. C. You would have a net profit of $2 by closing your position on the spread. D. all of the above 11. You bought Mar 60 call at $5 and sold Apr 70 call at $3. This transaction is most probably a ___. A. long call spread B. long put spread C. short call spread D. short put spread 12. You initiated a long call spread by buying Sept 70 call at $10 and selling Oct 80 call at $5. What is your maximum profit in this transaction? A. $5 B. $10 C. $15 D. The maximum profit cannot be determined because the stock price is not given. 13. You initiated a long call spread by buying May 100 call at $15 and selling June 85 call at $8. What is your maximum loss in this transaction? A. $7 B. $8 C. $15 D. $23 14. If you enter into a long call spread, which of the following pair of transactions would give you the greatest possible profit? A. buying a July 30 call at $5 and selling an August 50 call at $4 B. buying a July 25 call at $6 and selling an August 40 call at $5 C. buying a July 40 call at $9 and selling an August 60 call at $5 D. All of the above transactions have equal maximum profit 15. You initiated a short call spread by buying a Jan 40 call at $4 and selling a Feb 30 call at $7. What is your maximum profit in this transaction? A. $3 B. $7 C. $11 D. The maximum profit cannot be determined because the stock price is not given. 16. If you enter into a short call spread, which of the following transactions would you pair with buying a Nov 65 call at $6 to have the greatest possible profit? A. selling a December 60 call at $7 per share B. selling a December 50 call at $8 per share C. selling a December 40 call at $9 per share D. The greatest possible profit would depend upon the highest price that the stock could get. 17. You entered into a long put spread by buying Aug 95 put at $15 and selling Sept 75 put at $9. Which of the following is true? A. A stock price of $100 at August expiration would give you the greatest profit. B. A stock price of $85 at August expiration would give you the greatest profit. C. A stock price of $80 at August expiration would give you the greatest profit. D. A stock price of $70 at August expiration would give you the greatest profit. 18. In a long put spread, you bought Apr 55 put at $6 and sold May 35 put at $3. If the stock trades at $60 at April expiration, which is true? A. The April 55 put would expire worthless. B. The May 35 put would have an intrinsic value of $25. C. You would lose $5 at April expiration. D. You would profit $3 at April expiration. 19. What’s your initial credit if you bought Oct 80 put at $9 and Nov 90 put at $13 both for a stock initially trading at $85? A. -$4 B. $4 C. $5 D. $8 20. In a short put spread, you bought June 60 put at $8 and sold July 75 put at $10. The ...
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